25 July 2018, Makati City, Philippines – Security Bank Corporation (SBC) and Japan’s largest bank MUFG Bank, Ltd., (MUFG) convened Japanese and Filipino businesses at the 2nd Business Matching Fair, following a successful kickoff event in 2017.
The strategic partners have arranged 229 business collaboration meetings to provide clients a venue to expand their network and customer base.
A total of 88 large-, medium- and small-scale businesses from the Philippines, Japan, Thailand and Vietnam (through MUFG’s partners) in the FMCG industry, particularly those from the food and beverage, consumer goods, consumer electronics, and cosmetics sectors participated in the fair.
“From our kickoff event last year, more clients have expressed their interest in joining the second matching fair. Most of the Philippine and Japanese clients that participated this year are new and are excited to hopefully seal business deals,” Security Bank President Alfonso L. Salcedo, Jr. said.
Japanese businesses are still bullish on the country’s high economic growth. Investors generally see the Philippines’ strong household spending, strong labor force and the so-called “demographic sweet spot” as drivers for more foreign direct investments. Security Bank and MUFG are optimistic that businesses can capitalize on this positive economic outlook through the Business Matching Fair.
“Our young and growing population is a key factor for Japanese businesses. Investors are looking for long-term investments that will allow them to capture some of the country’s demographic dividend,” Salcedo said, adding that the recent GDP growth is also a boon for Japanese investments in emerging markets.
On one hand, the growing consumer market in the country and the rising purchasing of power of Filipinos brought about by tax reform encourage Filipino businesses to expand their portfolios and offer Japanese branded goods. On the other hand, Japanese consumers are impressed with the quality and standard of the products from the agriculture and fisheries sector in the Philippines.
MUFG’s Head of Financial Solutions Group Makoto Kobayashi said that this second business matching event reaffirms the commitment by MUFG and SBC towards working together to contribute to the success of both banks, as well as the long-term development of the Philippine economy. MUFG and SBC sealed their partnership in April 2016 and this has enhanced the Japanese bank’s regional network, which also includes strategic tie-ups with banks in Vietnam, Thailand and Indonesia.
“MUFG has had longstanding presence in Asia and has been in the Philippines for about 100 years. It is a very important market for our regional growth strategy, which is why we are putting in tremendous effort to combine MUFG’s global network and resources with SBC’s local reach and expertise to maximize our service contributions to customers in both Philippines and Japan.
“We have actively promoted the Philippines to our Japanese client base and they are well aware of the strong relationship we have with SBC. With Japanese business sentiment of the country remaining strong, we will definitely want to continue harnessing the MUFG-SBC partnership to serve as a gateway for Japanese investment into the Philippines and facilitate greater collaboration between companies from both countries.”
Through months of pre-screening and evaluation, SBC and MUFG strategized and identified clients that match according to their goals and needs. Through the Business Matching Fair, participants can leverage on SBC’s and MUFG’s reputation, financial capability and vast network to meet new prospective business partners.
“We are providing a streamlined avenue for both Philippine and Japanese clients to meet and possibly seal a deal, furthering their business relations and even strengthening our country’s exports,” Salcedo said.
The strategic partners are hopeful that the business matching event will help boost the import-export of goods and strengthen trade relations between the Philippines and Japan.
The Business Matching Fair is a major business gathering event jointly organized by Security Bank and MUFG to strengthen business ties between the two countries and open more opportunities for Filipino and Japanese businesses.
ABOUT SECURITY BANK CORPORATION
Security Bank Corporation is among the five largest private domestic universal banks in the Philippines, established on June 18, 1951 as the first private, Filipino-controlled bank of the post-World War II period and publicly-listed with the Philippine Stock Exchange (PSE: SECB) in 1995. Security Bank’s major businesses cover retail, commercial and corporate banking, and financial markets, offering a wide range of services including financing and leasing, foreign exchange and stock brokerage, investment banking and asset management. On January 14, 2016, Security Bank entered into a strategic partnership with Mitsubishi UFJ Financial Group, Inc. (MUFG), Japan’s largest financial group. The partnership provided Security Bank with additional capital, long-term funding and business collaboration opportunities.
For more information, visit www.securitybank.com.
ABOUT MUFG BANK, LTD.
MUFG Bank, Ltd., a member of Mitsubishi UFJ Financial Group, Inc. (MUFG), is Japan’s premier bank, with a global network spanning over 1,800 offices in more than 50 countries. Outside of Japan, the Bank offers an extensive scope of commercial and investment banking products and services to businesses, governments and individuals worldwide.
In the Asia region, MUFG has a presence in 20 key markets and close to 7,000 employees serving largely corporate and institutional clients. Singapore serves as the regional headquarters for the region covering major cities in ASEAN, South Asia, Oceania as well as in Greater China. In addition, Bank of Ayudhya PCL (Krungsri), MUFG’s majority-owned banking subsidiary in Thailand, with more than 600 branches and close to 18,000 staff, has further expanded the Bank’s footprint in this region.
MUFG is one of the world’s leading financial groups. Its services include commercial banking, trust banking, securities, credit cards, consumer finance, asset management and leasing. The Group’s operating companies include MUFG Bank, Ltd., Mitsubishi UFJ Trust and Banking Corporation (Japan’s leading trust bank), and Mitsubishi UFJ Securities Holdings Co., Ltd., one of Japan’s largest securities firms. MUFG’s shares are traded on the Tokyo, Nagoya, and New York (NYSE: MUFG) stock exchanges.
For more information, visit www.mufg.jp/english.